What NET OPERATING LOSS (NOL) means: A NOL is the net loss for the year attributable to business or casualty losses. Depending on the nature of the loss, it may be carried back for two, three, or five years before the year of the loss. The loss is subtracted from the income reported on the return and the unused loss can be carried forward for up to 20 years.
- Definition Nontaxable Exchange:
- Dictionary An exchange on which no gain or loss is recognized in the current year. The realized gain generally is recognized when the property acquired in the exchange is sold net operating loss (nol) definition.
- Definition Nonbusiness Bad Debts:
- Dictionary incurred in connection with a creditor's trade or business. A nonbusiness bad debt is deductible as a short-term capital loss and is allowed only in the year the debt becomes entirely worthless net operating loss (nol) explain.
- Definition Negligence:
- Dictionary reasonable care and caution as would be expected of a prudent person. A penalty may be assessed if any part of an underpayment of tax is due to negligent or intentional disregard of rules and net operating loss (nol) what is.
- Definition Nonresident Alien:
- Dictionary A person who is not a U.S. citizen and does not live in the United States, or lives in the United States and does not have a green card or does not meet the substantial presence test net operating loss (nol) meaning.
How works Net Operating Loss (NOL meaning in Tax definitions N .
